The US authorities will transfer the released 30 million barrels of oil to seven American companies. This was reported press office US Department of Energy on Wednesday, March 16.
“Today, the US Department of Energy ordered the transfer of contracts for all 30 million barrels from the Strategic Petroleum Reserve. This full subscription sale is part of a coordinated effort with 30 member countries of the International Energy Agency to collectively release an initial 60 million barrels of oil,” the statement said.
The participants in the transaction were: Atlantic Trading & Marketing (1.05 million barrels), Chevron USA (1.265 million barrels), Gunvor USA (0.350 million barrels), Marathon Petroleum Supply and Trading (16.06 million barrels), Motiva Enterprises (2. 55 million barrels), Phillips 66 Company (4.2 million barrels), Valero Marketing and Supply Company (4.75 million barrels).
Earlier, on March 9, US Secretary of Energy Jennifer Granholm called on national oil producers to increase energy supplies to stabilize the situation on the oil market after the ban on oil supplies from Russia.
The day before, United States President Joe Biden had imposed a ban on all gas and oil imports from Russia. According to him, the decision was supported by both the Democratic and Republican parties. At the same time, he acknowledged that the consequences of such sanctions will also hit the States themselves – gasoline prices, which have reached historically high levels, will continue to grow.
On March 2, Biden confirmed his readiness to use part of the energy reserves for the subsequent stabilization of oil prices. As part of commodity interventions, the United States releases 30 million barrels of oil, and another 30 million barrels are distributed by 29 member countries of the International Energy Agency.
Energy sanctions against Russia were imposed by a number of Western countries after Russian President Vladimir Putin on February 24 announced the start of an operation to protect civilians in the Donbass.
A few days earlier, the situation in the region escalated due to shelling by the Ukrainian military. The authorities of the Donetsk and Lugansk People’s Republics announced the evacuation of residents to Russian territory, and also turned to Moscow for help. On February 21, Putin signed a decree recognizing the independence of the DNR and LNR.
For more up-to-date videos and details about the situation in Donbass, watch the Izvestia TV channel.
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